Avro Energy, Inc. Announces Agreement for Acquisition of Oil Leases in Louisiana,...

Sat Jul 11, 2009 1:06am EDT
 
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Avro Energy, Inc. Announces Agreement for Acquisition of Oil Leases in
Louisiana, USA

WEST SUSSEX, England, July 11, 2009 (GLOBE NEWSWIRE) -- Avro Energy, Inc.
(OTCBB:AVOE) is pleased to announce that it has entered into a letter agreement
to acquire various oil leases near Hosston, Louisiana, from a private oil and
gas operator. Under the terms of the agreement, the Company has agreed to pay a
total of $100,000 upon the signing of a formal agreement on or before August 30,
2009.

The Company will purchase the Hoss Holmes Lease located near Hosston, Louisiana.
The purchase includes 22 wells, of which 13 wells are producing, with another 7
wells needing production equipment, and 2 wells which are disposal wells. In
addition, the agreement includes the purchase of all of the equipment associated
with these wells.

Also, as part of the agreement, the Company has been granted the option to
purchase all of the remaining oil and gas assets of a private Louisiana oil and
gas operator for $2,500,000. The additional leases will include 180 wells,
currently perforated in the Nachatosh formation as well as all of the oil
production and workover equipment owned by the private corporation. All oil and
gas leases covered in this agreement are subject to a 20% overriding royalty.

Donny Fitzgerald, the Company's Vice-President of Operations, will be primarily
responsible for overseeing this project. Mr. Donny Fitzgerald has over 20 years
experience in Oil and Gas Operations in the United States and will be a valuable
asset to the Company's growth. Under Mr. Fitzgerald's direction, the Company
intends to continue its primary focus of successfully acquiring and producing
oil assets in Northern Louisiana.

Forward-Looking Statements

Cautionary Note to U.S. Investors -- We may use certain terms in our press
releases and on our website such as "will," "anticipates," "believes," "plans,"
"goal," "expects," "future," "retained," "valuation," "potential," "interested,"
and similar expressions are used to identify these forward-looking statements.
Actual results could differ materially from those anticipated in these
forward-looking statements for many reasons, including the risks we face as
described in this press release. You should not place undue reliance on
forward-looking statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties. You can review
and obtain copies of our filings from the SEC's website at
http://www.sec.gov/edgar.shtml.

The OTCBB has not reviewed or does not accept responsibility for the adequacy or
accuracy of this release. This news release may contain forward-looking
statements including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and, therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.

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CONTACT:  Avro Energy, Inc.
          Michael Kurtanjek, President
          318-732-4737
          avroenergy@gmail.com

 

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